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$849,000
Est. payment /mo
14,841 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 14,841 sqft
Price per Sqft $57
MLS Listing ID 12601233
Maintenance Fees $3,487
Year Built 1892
Annual Tax Amount $14,676
Tax Year 2024
Lot Dimensions 50X161
Property Sub-Type Multi Family 5+
Property Description
Nestled in the heart of Chicago's rapidly growing Washington Park neighborhood, this fully occupied, six-unit building offers a blend of stable cash flow and exceptional future potential. Located near the University of Chicago and the expansive Washington Park, this property is positioned to benefit from the area's ongoing development, including the future Obama Presidential Center. With property values steadily rising, this investment represents a rare opportunity for savvy investors. Boasting a classic stone facade and a grand marble entryway, this well-maintained building exudes timeless charm. Each of the six spacious 3-bedroom, 1-bath units spans 1,800 square feet, featuring high ceilings, formal dining rooms, real pantries, private back decks, and beautiful bay windows that flood the interiors with natural light. Hardwood floors and well-kept common areas add to the appeal, ensuring tenant satisfaction and full occupancy. Additionally, the building generates extra income through coin-operated laundry facilities and offers gated parking with a two-car brick garage. With a solid history of long-term tenants, this property is a proven income generator. For investors looking to maximize returns, there is untapped potential in the lower level, where a 7th and possibly 8th unit could be developed, both areas have ingress and egress access. Updates include a 2011 boiler to enhance the property's efficiency. The seller is open to discussing owner financing terms provided the seller is in first position with collateral, thereby expanding this armchair investment opportunity to the widest pool of entrepreneurs. This is your chance to make this Washington Park money maker work for you.
Location
State IL
County Cook
Area Chi - Washington Park
Zoning MULTI
Interior
Fireplace N
Exterior
Utilities Available Sewer Connected
Building
Dwelling Type Multi Family 5+
Water Municipal Water
Structure Type Brick,Stone
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Listed by Paul Frischer of Berkshire Hathaway HomeServices Chicago